British expats face 'cliff edge' in pensions and insurance after Brexit

james · 22 September 2017 15:50

You might want to have a chat with @Brian_Furzer regarding QROPS, he’s one of our resident IFAs

QROPS changes which could affect expatriates Independent Financial Advice

Source - Brian Furzer - Spectrum IFA Recently there have been a number of changes regarding QROPS which could affect anyone reading this post, so you need to review your pension provision! [image] Many of the problems for expats have been caused by legislation in the UK, which didn’t take into account pension holders who were still undecided about what to do with their pension pots left in the UK and as things stand, tax generating measures have been strengthened in the last budget, which leaves those people at a disadvantage. In summary, any QROPS transfers requested on or after the 9th March 2017 will be subject to a 25% tax charge, unless: The QROPS is in the EEA and the Member is also resident in a EEA country. The QROPS and Member are in the same country or territory. The QROPS is an employer sponsored occupational scheme, overseas public service pension scheme or a pension scheme established by an international organisation. For these measures, the EEA includes Gi…